Quote:
Originally Posted by Eggmoon
I'm wondering if Customs and the ATO (My ex-employer.... redundancies do give so much more time for star gazing...) are playing from the same song book.
Customs may have a different interpretation of the rules.
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Hi Geoff,
They are in that Customs is responsible for calculating and collecting
GST on behalf of the Australian Tax Office (ATO) based on the ATO
algorithm.
These days registered entities deal with Australian Customs through
a secure electronic portal but the online import declaration form still
takes on the name of the original paper form - a "Nature 10" or "N10"
for short.
It calculates the Value of the Taxable Importation (VoTI) for GST purposes
in the way I described in my previous post.
If you ever import with a courier such as FedEx, they will do the custom's
brokerage (i.e. filling out the N10) on your behalf and they will compute
the amount of GST and collect it on behalf of your previous employer
with ruthless efficiency.